#23 Innovation: product, process and service, with Nils Vesk.
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The most innovative companies look across three areas; process, product and service.
Why is it important for a manager to lead innovation and how can that be done?
Innovation can make a massive difference. It relieves job boredom and can bring a new lease of life; an energy that wasn't there before.
An innovative company doesn't need a whiz-bang product. It could be what's happening internally.
If you can innovate your process, then that's automatically going to increase the valuation or the multiple of your EBIT.
Mistakes: 3 types:
- real mistake - wrong process executed
- blackout - part of the process forgotten
- slip-up - right process executed incorrectly
How a manager can lead innovation:
- facilitate an innovation exercise
- generate insights and ideas
- validate and prototype
- effectively pitch to convey the value of the idea
Insights: 3 criteria:
- how workable?
- how unmet?
- how winnable?
- how technical?
- how easy or difficult?
- financial return?
Tactically, does this idea solve a problem the organisation wants or needs solved?
Does it relate to the bigger picture?
How many unknowns are there?
Use a scoring process to evaluate.
COVID created a paradigm shift and given people a new opportunity to lead an inspirational culture.
ABOUT NILS VESK, CSP
Nils’ research identified the major cause of this problem is that our biases get in the way of innovating. Nils has reinvented the innovation process through the use of innovation archetypes. Nils' quest is how to deal with obstructions to innovation.
Professionally trained as a designer, Nils Vesk uses ‘Design thinking’ to become Australia’s ‘Innovation Architect’.
Nils is the author of: ‘Innovation Archetypes , democratising innovation' (2015), and coming up soon, his new book, 'Re-invention Sprint'.
Nils Vesk can be contacted at https://nilsvesk.com/ and https://thereinventionclub.com/
ABOUT THE HOST, NINA SUNDAY, CSP
A Certified Virtual Presenter, Nina Sunday presents virtually internationally on workplace culture, productivity and communication. Her book, ‘Workplace Wisdom for 9 to thrive; proven tactics and hacks to get ahead in today’s workplace’ is a selection of the C-Suite Book Club.
With a Bachelor of Arts and Diploma in Education, Nina is a Past Chapter President of Professional Speakers Australia and a CSP (Certified Speaking Professional).
In the Manage Self, Lead Others podcast, Nina Sunday speaks with key experts from across the globe to share insights on self-leadership and leading others, highlighting emerging trends.
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